Brookfield Business director logs share exchange

Brookfield Business Corp director Anne Ruth Herkes reported dispositions of securities back to the issuer in connection with a corporate reorganization.

Rhea-AI Filing Summary

Brookfield Business Corp director Anne Ruth Herkes reported dispositions of securities back to the issuer in connection with a corporate reorganization. On March 27, 2026, 12,581 Class A exchangeable subordinate voting shares and 1,106 non-voting limited partnership units were surrendered to the issuer as part of a court-approved plan of arrangement under the Business Corporations Act (British Columbia). These securities were exchanged on a one-for-one basis for class A subordinated voting shares of Brookfield Business Corp, leaving no remaining holdings of the original units or exchangeable shares reported in this filing.

Insider Trade Summary

Disposition: 13,687 shares

Disposition 2 txns

Insider Herkes Anne Ruth

Role Director

Type	Security	Shares	Price	Value
Disposition	Class A Exchangeable Subordinate Voting Shares	12,581	$0.00	$0.00
Disposition	Non-Voting Limited Partnership Units	1,106	$0.00	$0.00

Holdings After Transaction: Class A Exchangeable Subordinate Voting Shares — 0 contracts (Direct); Non-Voting Limited Partnership Units — 0 shares (Direct)

Footnotes (2)

1. F1. On March 27, 2026, pursuant to an arrangement agreement dated as of November 6, 2025, Brookfield Business Partners L.P. ("BBU"), Brookfield Business Holdings Corporation (formerly Brookfield Business Corporation) ("BBHC") and Brookfield Business Corporation (formerly 1559985 B.C. Ltd.) (the "Corporation") completed a court approved plan of arrangement under section 288 of the Business Corporations Act (British Columbia) (the "Arrangement"), pursuant to which, among other things, holders of non-voting limited partnership units of BBU (the "BBU Units") and holders of BBHC's class A exchangeable subordinate voting shares (the "BBHC Exchangeable Shares") received class A subordinated voting shares of the Corporation in exchange for their BBU Units and BBHC Exchangeable Shares on a one-for-one basis. As a result of the Arrangement, BBU and BBHC became subsidiaries of the Corporation. This Form 4 represents BBU Units and BBHC Exchangeable Shares transacted pursuant to the Arrangement.
2. F2. Represents BBHC Exchangeable Shares which, prior to the Arrangement, were exchangeable into BBU Units on a one-for-one basis (subject to adjustment to reflect certain capital events) or its cash equivalent (the form of payment to be determined at the election of BBU). Pursuant to the Arrangement, the BBHC Exchangeable Shares were exchanged for class A subordinated voting shares of the Corporation on a one-for-one basis.

Key Figures

BBHC exchangeable shares disposed: 12,581 shares BBU non-voting units disposed: 1,106 units Post-transaction BBHC exchangeable shares: 0 shares +1 more

4 metrics

BBHC exchangeable shares disposed 12,581 shares Class A exchangeable subordinate voting shares surrendered on March 27, 2026

BBU non-voting units disposed 1,106 units Non-voting limited partnership units surrendered on March 27, 2026

Post-transaction BBHC exchangeable shares 0 shares Holdings after arrangement-related disposition

Post-transaction BBU non-voting units 0 units Holdings after arrangement-related disposition

Key Terms

plan of arrangement, non-voting limited partnership units, class A exchangeable subordinate voting shares, class A subordinated voting shares, +1 more

5 terms

plan of arrangement regulatory

"completed a court approved plan of arrangement under section 288"

A plan of arrangement is a formal, court-approved agreement that reorganizes ownership or assets of a company—such as merging businesses, exchanging shares for cash or other securities, or splitting off parts of the company. Investors should care because it can change the value, number, and rights of their holdings and is often binding once approved by both shareholders and a court, offering more legal certainty than a simple vote. Think of it as a legally supervised recipe for how a company will be reshaped and who ends up with what.

non-voting limited partnership units financial

"holders of non-voting limited partnership units of BBU (the "BBU Units")"

class A exchangeable subordinate voting shares financial

"holders of BBHC's class A exchangeable subordinate voting shares"

class A subordinated voting shares financial

"received class A subordinated voting shares of the Corporation"

Business Corporations Act (British Columbia) regulatory

"plan of arrangement under section 288 of the Business Corporations Act (British Columbia)"

A provincial law that sets the rules for forming, managing and winding up corporations registered in British Columbia, including how directors and shareholders must act, what information companies must disclose, and how disputes are handled. Investors care because it provides a predictable rulebook — like referees and play-by-play rules in a game — that protects shareholder rights, clarifies management duties and disclosure obligations, and therefore affects a company’s legal risk and investment value.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What insider transaction did Brookfield Business Corp (BBU) disclose in this Form 4?

The Form 4 reports that director Anne Ruth Herkes disposed of 12,581 Class A exchangeable subordinate voting shares and 1,106 non-voting limited partnership units to the issuer. These movements occurred as part of a broader court-approved corporate reorganization, not an open-market trade.

Why did Anne Ruth Herkes dispose of Brookfield Business Corp-related units and shares?

The dispositions occurred under a court-approved plan of arrangement involving Brookfield Business Partners L.P., Brookfield Business Holdings Corporation, and Brookfield Business Corp. Existing units and exchangeable shares were exchanged for class A subordinated voting shares of Brookfield Business Corp on a one-for-one basis.

What happened to the non-voting limited partnership units of BBU in this transaction?

Holders of non-voting limited partnership units of BBU exchanged those units for class A subordinated voting shares of Brookfield Business Corp on a one-for-one basis. Anne Ruth Herkes’ Form 4 shows 1,106 such units disposed to the issuer as part of this exchange process.

How were Brookfield Business Holdings Corporation exchangeable shares treated in the arrangement?

BBHC’s Class A exchangeable subordinate voting shares, which were previously exchangeable into BBU units or cash, were exchanged for class A subordinated voting shares of Brookfield Business Corp on a one-for-one basis. The Form 4 reflects 12,581 of these exchangeable shares transacted under the arrangement.

Did Anne Ruth Herkes retain the original BBU units or BBHC exchangeable shares after the transaction?

No. The Form 4 shows zero BBU non-voting units and zero BBHC exchangeable shares remaining after the transactions. Those interests were replaced by class A subordinated voting shares of Brookfield Business Corp as part of the court-approved arrangement.

What structural change did this plan of arrangement create for Brookfield Business Corp (BBU)?

Under the plan of arrangement, Brookfield Business Partners L.P. and Brookfield Business Holdings Corporation became subsidiaries of Brookfield Business Corp. Securityholders received class A subordinated voting shares of Brookfield Business Corp in exchange for prior units and exchangeable shares on a one-for-one basis.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 03/31/2026 - 04:19 PM Learn about SEC filing dates

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

X

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Herkes Anne Ruth

(Last) (First) (Middle)

C/O BROOKFIELD BUSINESS PARTNERS L.P.

73 FRONT STREET, FIFTH FLOOR

(Street)

HAMILTON HM 12

(City) (State) (Zip)

BERMUDA

(Country)

2. Issuer Name and Ticker or Trading Symbol
Brookfield Business Corp [ BBU ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
03/27/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Non-Voting Limited Partnership Units	03/27/2026		D		1,106	D	(1)	0	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Class A Exchangeable Subordinate Voting Shares(2)	(1)	03/27/2026		D			12,581	(1)	(1)	Non-Voting Limited Partnership Units	12,581	(1)	0	D

Explanation of Responses:

1. On March 27, 2026, pursuant to an arrangement agreement dated as of November 6, 2025, Brookfield Business Partners L.P. ("BBU"), Brookfield Business Holdings Corporation (formerly Brookfield Business Corporation) ("BBHC") and Brookfield Business Corporation (formerly 1559985 B.C. Ltd.) (the "Corporation") completed a court approved plan of arrangement under section 288 of the Business Corporations Act (British Columbia) (the "Arrangement"), pursuant to which, among other things, holders of non-voting limited partnership units of BBU (the "BBU Units") and holders of BBHC's class A exchangeable subordinate voting shares (the "BBHC Exchangeable Shares") received class A subordinated voting shares of the Corporation in exchange for their BBU Units and BBHC Exchangeable Shares on a one-for-one basis. As a result of the Arrangement, BBU and BBHC became subsidiaries of the Corporation. This Form 4 represents BBU Units and BBHC Exchangeable Shares transacted pursuant to the Arrangement.

2. Represents BBHC Exchangeable Shares which, prior to the Arrangement, were exchangeable into BBU Units on a one-for-one basis (subject to adjustment to reflect certain capital events) or its cash equivalent (the form of payment to be determined at the election of BBU). Pursuant to the Arrangement, the BBHC Exchangeable Shares were exchanged for class A subordinated voting shares of the Corporation on a one-for-one basis.

	/s/ Arin Jonathan Silber, Attorney-in-Fact	03/31/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)